Get Back PPI Premiums that You Have Paid Unnecessarily

Financial institutions and lenders have widely sold controversial payment protection insurance plans to their own consumers.

London, United Kingdom (prHWY.com) July 9, 2012 - Financial institutions and lenders have widely sold controversial payment protection insurance plans to their own consumers. They applied their own trick to make consumers fool and secretly take the sign of consumers. Actually payment protection insurance plan made to provide payment security for unpaid debts. These things seem good in theory but in practical it is completely useless for policy holders. They make useless payments of premiums for several years and when they need these coverage extremely then they come to know that it is not efficient for then due to certain kind of exclusions.

You will be surprise to know that almost 20 million consumers of UK have unfairly sold PPI plan from the banks or policy sellers. People were even unaware of the fact that they are paying for PPI premiums that worth zero for them. Actually PPI plans were added directly to the mortgage, personal loans, debit cards or credit card payments. Consumers were not informed about the exclusion and provision added with the plan. In some situations sellers make payment protection insurance as a compulsory financial product with any lending product. They were told that there would be higher interest rate in case of not taking PPI plan.

Some creditors sell this plan with some different beautiful names like credit care insurance and sickness, payment and life insurance. Consumers were provided insufficient information about the plan and finally it added with product without their knowledge.

After realizing the situation, several consumers make complaints for this. Financial services authority has investigated the product and finds it financially a problem for consumers. There is provision for banks to pay back the consumer's amount with full interest on it. If you have Mis Sold PPI then file claim today to get back compensation for our losses.

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Tag Words: ppi claims uk, ppi claims, mis sold ppi

Categories: Finance

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